Spousal RRSPs still a valuable tax tool, say experts

In 2007, Ottawa introduced new rules that allow couples over the age of 65 to split some of their income for tax purposes. It’s a move that could help lower a senior couple’s overall tax payments.

But RRSP experts say the new “income splitting” legislation isn’t the only way — or may not be even the best way — for married or common-law couples to share and lower their tax burden for maximum benefit during retirement.